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martha stewart, too. >> well, so, jcpenney we know for sure is reporting their earnings tomorrow morning before the opening bell. and remember, they don't give guidance anymore, so some of the analysts' estimates are all over the place. but on average, we are looking for a loss of about $1.06 or $1.07 on revenue of $2.76 billion. the same-store sales number, many expect it will be negative, down around 8% or so. and we know that they told us their cash on the balance sheet was $1.5 billion. they told us that when they released some of the information about that earlier on. as far as the ruling goes, the court case, we actually don't know when that is going to come down. the judge said in closing arguments that he will get it to us soon. we don't exactly know how we will get the information, and if it will be given to the lawyers as a heads-up or it gets posted online and we all get it at the same time. but whatever it is, and whenever it is, it will certainly make headlines. >> it certainly will. >> thank you, court. >> reporter: thank you. >> see you later. that's going to be big when t
. and now it's on to court and jcpenney joining martha stewart living omnimedia against macy's. and seeing the parties in court today for the first time in three months and it's possible the judge could even render a decision today because he's had all of the post trial briefs for quite some time to really determine who, in fact, has the right to sell martha stewart designed products in the categories that macy's claims it contractually owns. right now martha stewart's legal team is presenting its closing argument. jcpenney's team will present after that. each of those legal teams will get 75 minutes each before macy's goes on for two hours of its closing. the judge said he will not ask any questions this time, he'll simply sit back and listen and take notes. macy's is no longer asking the judge to pull the jcpenney everyday products that martha stewart designed off of the shelves but is instead asking that he prohibit martha stewart living from designing any additional products in those categories. also macy's is now seeking damages, attorney's fees and punitive damages and injunctive rel
and will make the call while he's on the beach in martha's vineyard. >> amy, what's your take in terms of that horse race for the fed chairman? >> it was interesting and there's been some remarking if you read twitter that the president chose to compare larry summers -- his personal defense of larry summers with the defense of susan rice. we know he put up a defense of susan rice and ultimately chose not to nominate her. i don't know if that was the best analogy to make here if you're larry summers and said, boy, the last time he went out and went to bat, she ended up getting the second job she wanted not the first. >> yeah, interesting. let's get to eamon who was in the room during that press conference. eamon, what can you tell us? >> reporter: hi, maria, you heard the president talking today on a wide range of subjects. and this underscores for me the vastness of the presidency. he's talking about everything from healthcare to drone strikes in yemen, the intelligence policy and, of course, the discussion you're talking about on what he's going to do in terms of the next chairman of
addressed the situation seemingly deteriorating in cairo and egypt from martha's vineyard earlier today. >> mohamed morsi was elected president in a democratic election. his government was not inclusive. we know that many egyptians, millions of egyptians, perhaps even a majority of egyptians, were calling for a change in course. let me say that the egyptian people deserve better than what we've seen over the last several days. >> cnbc is live in a very tense cairo. yusef? >> reporter: well, tyler, in the last few minutes we've got the report that the casualty toll in the sinai peninsula has risen after an attack on a checkpoint. we now understand that seven, not four, soldiers were killed in the attack. clashes are still under way across egypt. it's not just happening in sinai, it's happening in carroll and reports of attacks on churches, on police stations, on shops and even on banks. clearly the stakes are much, much higher and they will continue to fight. a spokesman saying they will not cower and they will rise again. now, a march is called for tomorrow on the other hand. you mentio
expecting to rule in macy's favor, but may allow jcpenney to tinseling certain martha stewart products that don't bear her name. certainly a name to watch, and moving in the market today. >> absolutely. thanks for that. good to see you. have a good day. >>> the legal battle between apple and samsung could come to a head today. a ruling expected on the patent fight. we'll have more when we come back. [ male announcer ] come to the lexus golden opportunity sales event and choose from one of five lexus hybrids that's right for you, including the lexus es and ct hybrids. ♪ this is the pursuit of perfection. >>> recapping the headlines, global manufacturing picks up as data reveals a return to growth in europe and china. societe generale to the top of the markets in france. no such luck for shell, sluggish second quarter sent shares lower in london. >>> . >>> other stories today, apple's asian supplies are reportedly gearing up for mass production of a new ipad mini tablet in the fourth quarter. also wall street journal says the new device will have a higher resolution retina display. app
this afternoon at the white house before leaving for vacation on martha's vineyard. andrew? >> we got a couple of corporate stories to talk about. big one, the jpmorgan now reportedly close to reaching a settlement with security regulators over the so-called london whale trading losses. bruno iksil, he was the whale in some ways, he's not expected to face charges related to the incident. apparently, by the way, he's talking and made some kind of deal or may be making a deal with the s.e.c. the other component of this is that as part of whatever settlement the s.e.c. reaches with jpmorgan, they might have to admit some form of wrongdoing or some form of admission -- >> why would the s.e.c. cut a deal with that guy when he was the rogue trader doing things that the management at the bank -- >> unclear he was the rogue trader. it seems like what has happened is as the story developed that his boss and his boss' boss may have been more rogue than he was. not iona drew. >> a few layers -- >> a couple of layers in london and that may be where the problem is. the issue ofe iing jpmorgan to admitting
that he has made. >> we should explain this. it's because he's in martha's vineyard so there isn't the infrastructure to bring back the video as you would normally have. he's interrupting the holiday. it kind of takes a bit longer. i guess you can get the audio because that's where he does his weekly address sometimes but not the video. >> maybe we can get the video once it's recorded and sent out. >> we will. in about half an hour. a voice says in my ear by magic. >> mine, too. >>> royal caribbean ricing in the last couple of months so what is in store now for the rest of the cruise industry? an upgrade on carnival today from goldman's. the president and ceo of royal caribbean will join us live at post nine after this break. geoff: i'm the kind of guy who doesn't like being sold to. the last thing i want is to feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a fina
" top spot making $25 million. >>> president obama in washington after a vacation at martha's vineyard. he's got his work cut out for him. egypt, regulation and funding the government. john harwood joins us with the latest. what's top priority? >> top priority for the president that is meeting with financial regular laters. he returned from martha's vineyard to a vacation buffeted by the conflict in egypt and other things that are pressing on a national security basis, more revelations about the nsa as well. he's got a very economic, heavy agenda as he comes to back to washington. congress is still out. he meets with the whole array across the government of regulators about trying to keep pace with implementation of dodd/frank, only 40% of the regulations are done. volcker rule is most important, trying to get that done by the end of the year. the president has also got speeches in upstate new york to press his agenda for a middle out economy. that is not likely to go too far with republicans but he's trying to soften up the ground for the fiscal debates this fall. the president has th
certain martha stewart branded home goods despite macy's exclusive deal that they had with her. >>> and closing arguments, the judge could render his verdict from the bench today or issue a decision in the next couple of days. both of these are old dragging on cases. >> five years ago. >>> a survey is finding that u.s. natural gas prices are expected to creep higher for the remainder of the year. and again in 2014. the reuters poll of analysts says the demand will continue to improve after extremely low prices last year attracted more users. we'll be talking to the ceo of america's natural gas alliance in the next half hour. a different study out this week, we'll talk about this right now, a different study suggests drillers in north dakota's shale are burning off over $100 million or a third of the gas they produce. joining us right now to talk more about it is marty durbin, the president and ceo of america's natural gas alliance. we talked about the report of the flare, a billion dollars in natural gas in 2012 and something like $3.5 million every day that gets burned off in
month. he interrupted his vacation on martha's vineyard to address the violence ensuing in cairo. >> while mohamed morsi was elected president in a democratic election, his government was not inclusive. we know that many egyptians, millions of egyptians, perhaps even a majority of egyptians are were calling for a change in course. let me say that the egyptian people deserve better than what we have seen over the last several days. >> the president also said he wishes to sustain a relationship with egypt, but traditional cooperation cannot continue when civilians are being killed and rights are being stripped away. egypt's presidency responding in a statement said the president's words were not based on facts, and will only strengthen and encourage violent groups. carolin, back to you. >> thank you for that. >>> let's look at today's other top stories. a new contender enters the race for internet paid tv. viacom owns channels such as mtv, comedy central and nick are lodian. >>> sony has been planning to stream cable channels and on demand program over the internet, as this deal is
to martha's vineyard because all of that is up in the air and very tough. my view is they'll resolve that and we can talk about how but it's probably going to be very short term resolutions. >> tell us how and more importantly when perhaps. >> well, i think the way that the government shut down at the end of september gets avoided is through a short-term continuing resolution. that's another -- grand more mini bargains. the debt ceiling is a tougher one. >> i don't think we'll ever have -- we should just take the words grand bargain off the table. there are no ingredients for a grabd grand bargain. no one wants it. in fact, even the pieces of it that you and i want which are really need to include tax policy aren't going to be there. >> and nobody tries to hijack the process this time? >> lots of attempts to hijack. there's going to be hijacking left and right on this, on the debt ceiling and some effort on sequestration. i don't think there's going to be really successful if they continue with this ad hoc budgeting. >> will you at least acknowledge that the democrats now are taking
pretty well, says he'll take time over his vacation. going to martha's vineyard later this month. mull it over. >> as he should. >> maybe make a final call at that point. don't expect an announcement before september. renominated bernanke in august. that's not going to happen this time around. it'll come in september. i think unless something changes in his mind between now and then, it's going to be larry summers. i don't think he's been moved much by the criticism out there in the marketplace. particularly among liberals that larry summers is is too centrist, too in line with wall street, all that kind of stuff. he likes him, trusts him, trusts him on the financial collapse. >> the president must perceive summers to be so good he's willing to go through albeit some difficult criticism over the selection. >> he's willing to take the heat. he thinks a lot of the heat is unwarranted and unfair. he believes senate democrats will eventually come around and be uniformly supportive of larry summe summers. that some of the noise between now and then is just that. some would rather see janet
to advance his priorities. he sketched this out before he went to martha's vineyard, long before, really, and said essentially that at a time when congress is not cooperating with his priorities, he is going to go to the american people, sketch out what they are, try to win arguments, maybe you get a little headway with republicans in advance of the fall battles we have got over the continuing resolution, keeping government open over the sequester, over the debt limit, but he's really, even looking to the longer term and hoping to shape the priorities of the american people and politicians down the road for more spending on his priorities, infrastructure, job training, education, all the things that he makes the argument are necessary to build a prosperity from the middle class out. >> what do you know about this? the wall street journal story, now into the yellen/summers debate, that says the following. surprised and irritated to see senate democrats touting a preferred candidate for federal reserve chairman. white house officials have moved behind the scenes to quash the campaign and a
, washington is still on vacation, the president is on martha's vineyard. what news focus we have from the administration has been largely about the crisis in egypt, but we only got a couple more weeks left of this recess, and then we're going to be right back in the budget mess. there are three big issues that have to be resolved. i just want to run through potential elements of the end game. one is what to do about government spending. the fiscal year runs out at the end of september. they're going to have to at least do a temporary spending bill to keep that going while they negotiate. second is the fate of the sequester. it's about $90 billion a year, these cuts, both defense and discretionary spending. a lot of complaints about that there have been from democrats for a long time but republicans couldn't pass their own transportation bill last month before they went on break, so there's more talk about replacing those cuts with other ones, some out of entitlement programs, perhaps not medicare or social security, perhaps things like farm subsidies, maybe some fees being raised as o
that washington needs to be more vocal on it, more than the president calling in from marriage wmarth martha's vineyard saying, i'm aware of the situation in egypt. >> guys yelling at him, we're on the tee, let's go. hurry up. what are you doing over there, barack? you're on the phone again? you're up! sorry. let's go to -- >> we could go across the pond for a moment, time for the global market report. carolin roth is standing by in london. carolin? >> good morning to you, guys. we are in a bit of a holding pattern ahead of the fomc minutes and seeing european markets pulling back just a little bit. we're off by around .3% off the session lows. we did have a couple of earnings reports which will come to just a little bit. let me show you the markets one by one. the ftse definitely an underperformer, off by .75%. keep in mind about the stocks, hsbc trading today, the xetra dax is up by .25%. back to the earnings. we had two beermakers in europe report numbers and both were a little bit below expectations. but the share price performance is divergent. carlsberg in denmark up by almost .9%. aga
in mind because the president has after martha's vineyard been on the road talking about important issues. one of the things he said is narrowing the rich s/poor gap i his highest priority. probably more in tune with trying to push larry summer's position as fed chairman, no artificial bubbles. i want to know the difference between a real bubble and artificial bubbles. here is the deal, why all roads lead to the fed. the stock market is making new all-time records. i still contend that it makes many people scratch their heads because the administration isn't taking credit for what some deem a world class equity rally. why? remember, the fed. because in many ways whether it's bubbles, whether it's timely solutions, think quantitative easing, rich/poor gap, all of this really is being set up right here. think about corporate profits and then contrast that with employment. see, the problem is that really all roads should lead to jobs, jobs, jobs. but there is no real solution to job, job, jobs because the government can't create the kind of jobs that the private sector can that are the real
with martha's vineyard and he takes down the -- we'll leave it there. i don't think anyone. clear history. thank you. let's get to it. here is what you may have missed. >> welcome to squawk on the street. here is what's happened so farment. >> durable goods down, a whopping 7 approximate the 3. >> this is right sizing the industry. so gdp and capacity, those are the issues, the macro issues. >> are you in support of the transaction? >> i think we win either way, whether it goes through or whether it doesn't go through. >> that is the legacy drug a few billion. >> that's a great drug for pancreatic and kidney, nothing for those so this is one of those things amgen suddenly is back. >> that's global markets and agreed to a merger which i know came up last week. they agreed to a deal. >> you buy it and emotional response. >> it is a chick magnet, may i say that? shall i say that? >> i don't like to hang around small chickens. >> should i say it? >> i think bomber did a good job under difficult circumstances. of course he faced the classic innovators dilemma, a big profitable successful compa
. >> when will you hearn the chops to go to martha's vineyard? >> i'm a moderate democrat. >> i can attest to that. all right. john, good, thanks. it's like having the treasury secretary on "squawk box" as well as joe and jimmy. we will sy see you later. >> you like having the treasury secretary on. still positive? >> yes. >> we'll seal be talking about that in the next hour. >> i think i said that off camera. he didn't say. i think you opened up the discussion. >> i think you are right. >> do you think he said anything? >> i think the market will be relieved. >> i didn't 93 he was going to say na. >> wow. i'll let you go off cam and collect your thoughts. meanwhile, coming up, corn prices in focus at the farm progress show in decay tur, illinois? i forget which is which. but that's >> decay tur. >> lie ma, ohio. it's for sale. >> whole get jane to pronounce that for us. hey, jane. >> hey, kayla. lima, ohio. this is the real american people. 125,000 farmers and others will be out here kicking things like the statement of the art tractor. we will plow one into the outlook right after the br
. >> i can understand -- i remember when martha stewart was in prison for a time. there was all this focus on how cushy that was. i'm surprised in the case of raj given where he is there's still all these privileges extended. >> maybe they have to protect him. >> i think he's claiming a medical condition, and they're acceding to that request. >> dow continues to struggle here wavering below the triple digit loss and above. david, we'll see you a little later on. we'll talk some europe. if you're just joining us, here is what you missed earlier on. >>> welcome to "squawk on the street." here is what's happened so far. >> we're now in the place where the only question is will we pay the bills that the united states has incurred? and it is just -- the only way to do that is for congress to act, for it to act quickly. what we need in our economy is some certainty. we don't need another self-inflicted wound. we don't need another crisis at the last minute. congress should come back and they should act. >> do you know that every time we have business as usual and they talk, we go down
Search Results 0 to 18 of about 19

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